Concise Guide to Value Investing: How to Buy Wonderful Companies at a Fair Price

The business performance creates the value -- the price creates
the OPPORTUNITY.

No-one likes to pay too much for something. We all like to thing
that what we buy is ' good value'. It's not different when we
purchase a share in company listed on the stock market.

In the Concise Guide to Value Investing, Brian McNiven
reveals how to calculate the true value of a company to find out
whether you are paying a fair price. This fascinating book
explores:

value investing versus speculation

the difference between price and value

variable values of a dollar of earnings

accounting misrepresentation

the characteristics of a wonderful business

the StockVal® valuation formula.

Two of the world's most successful investors, Warren Buffett and
Charlie Munger, are self-confessed value investors. McNiven often
draws on their wisdom to support his approach to value
investing,which he defines as buying a share at a price lower than
its calculated value. Only investors who have the ability to
calculate value can call themselves 'value investors'.

Brian McNiven is the author of Stock Valuation, A Wonderful Company at a Fair Price and Market Wise. He makes his living investing on the Australian stock market and is the developer of StockVal® a stock valuation program.

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